A $3 Billion-Plus Windfall on Frozen Russian Assets

Frozen Russian assets earned 3 billion euros, or about $3.16 billion, for Euroclear in the first nine months of the year, the securities depository said. Belgium-based Euroclear, a key intermediary in global financial markets, is holding a large chunk of the $280 billion in Russian assets that were frozen by Western sanctions last year. Western countries are [hotly debating](https://ift.tt/GxhNXng) how to use the Russian assets that they have frozen, in order to fund Ukraine.